Mondial Energy Inc. and Neighbourhood Link Homes Announce Sale and Purchase of Solar Energy

Robert Reimers (left) and Deirdre Gibson (right) of Robert Reimers Architects, share a moment with Gerrie Burnett, centre, in front of an artist's rendering of the new building.

Toronto, April 27, 2005 – Mondial will own and maintain a system of solar thermal panels, and sell the thermal energy to Neighbourhood Link Homes for a new senior’s building under development on Danforth Avenue in Toronto.

“The agreement signed today demonstrates Mondial Energy’s ability to provide renewable thermal energy for the Neighbourhood Link Homes project”, said Alex Winch, Mondial President. “We have priced our energy to be a financially-attractive alternative to natural gas. The ability to lock in a fixed price for a long term was also appealing.”

Neighbourhood Link Homes operates three housing buildings; all of which are prime candidates for retro-fits with solar thermal panels. Judith Leon, Executive Director of Neighbourhood Link/Senior Link said, “Using renewable energy to supplement our hot water needs is a natural fit for us. We take a long-term view in planning our physical plant. Mondial has structured a proposal to meet our needs at a price we can afford.”

Congratulations to Neighbourhood Link Homes.

Background

Neighbourhood Link Homes is part of a community based non-profit social service agency, planning to build a 25-unit subsidized senior’s housing building in Toronto scheduled for completion in mid-2006. With an annual budget of $10 million, 160 staff and 1,000 volunteers, Neighbourhood Link/Senior Link, have been serving east Toronto with a wide range of social programs since 1975.

Mondial Energy Inc is a for-profit private company formed to own renewable energy installations and to earn revenue from the sale of renewable energy. Mondial is currently focused on solar thermal applications. Alex Winch, President of Mondial, is the owner of the Beach Solar Laundromat in Toronto.

For more information on this story, go to the Mondial Energy Web site.